Gap stock plunges 19% as retailer warns of tariff impact on profits

From Yahoo Finance: 2025-05-30 14:55:00

Gap shares tumbled as the retailer warned that tariffs would impact profits this year, overshadowing strong quarterly results. The company expects import duties to reduce operating income by $100-150 million. Despite recent gains, the stock dropped 19% on Friday to around $22.50. Technical analysis shows Gap shares rebounded sharply in April but faced resistance at previous peaks. Support levels to watch are $22 and $19, with a major overhead area at $29. Investors should monitor these key levels for potential recovery efforts. Tariffs are expected to weigh heavily on Gap’s financial performance this year.



Read more at Yahoo Finance: Watch These Gap Price Levels as Stock Plunges After Retailer Warns of Tariff Hit